Corporate Governance and Internal Audit in State-Owned Enterprises in Zimbabwe: An Institutional Perspective

This study examines the relationship between corporate governance frameworks and the effectiveness of the internal audit function in State-Owned Enterprises (SOEs) in Zimbabwe through the lens of institutional theory. Despite the existence of relatively comprehensive governance frameworks aligned with international standards, Zimbabwean SOEs continue to experience recurring governance failures, weak accountability systems, and financial underperformance. Adopting a qualitative, multiple-case study research design, data were gathered through semi-structured interviews with 17 key informants—including board members, internal auditors, and audit committee members—across 24 SOEs. The data were analysed using inductive thematic analysis to identify the institutional pressures dictating audit outcomes. The findings reveal that formal regulatory compliance alone does not substantively enhance the effectiveness of internal auditing. Instead, normative pressures (such as professionalisation, continuous training, and an ethical organisational culture) and coercive institutional mechanisms (such as robust oversight enforcement and political independence) serve as the primary predictors of internal audit quality. These findings highlight a critical need to strengthen enforcement mechanisms, depoliticise board appointments, and enhance professional capacity within internal auditing units across Zimbabwean public enterprises

state-owned enterprises, audit effectiveness, institutional theory, accountability mechanisms, public sector governance

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